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About Tk 92,000 cr smuggled annually

Main cause of dollar crisis

Mahfuz Emran: Shamsul Alam, the former Minister of State for Planning, said that $7 to $8 billion or Tk 81,000 to Tk 92 thousand crore are smuggled out of the country every year. He said that the dollar crisis started from money laundering. Hence steps are urgently needed to prevent it.
The former Minister of State for Planning said that 22 percent of the loans are risky, so the cost of the bank is increasing. It must be rushed. It is better if the bank commission, or at least a strong committee should be made with expert economists.
He said, ADP is supposed to be Tk 3 lakh 78 thousand crores in 8th five-year plan. Tk 2 lakh 65 thousand crores. Proposals in the budget like raising tax rates on the rich, withdrawing tax-free benefits on car imports by MPs are bold moves. He believes that reducing the tax at source by 1 percent at the supply stage of consumer goods will help reduce inflation.
He said that the price of some products is decreasing. The prices did not increase after the budget. Expatriate income increased by Tk 2 billion in the 11 months to May.
Stating that the government has taken several bold steps in this year’s budget, Shamsul Alam said that the government has reduced the size of the budget to reduce inflation. This year’s budget was supposed to be Tk 9 lakh 92 thousand crores due to inflation. This time the budget has been reduced to Tk 7 lakh 97 thousand crore, that is, the budget of about Tk 2 lakh crore has been reduced. A reduction in money supply will reduce inflation. Miserliness has been shown in this year’s budget.
Apart from this, the deficit has also been reduced, which has been done in the interest of cost reduction. Therefore, it is a bold budget. The corporate tax rate has been reduced in the budget. Various initiatives have been taken to increase production. Initiatives have been taken to import advanced technology or machinery in agriculture. The positive side of the budget in macro economy is that initiatives have been taken to increase revenue.

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